Loan Amortization Calculator

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

Secluded 30 acre private island paradise located just south of Stranger's Cay in the northern Abaco Cays. It is located 24 miles East-Southeast of Walker's Cay and 34 miles West-Northwest of Spanish Cay, both of which have good airstrips.

The island affords pristine white sand beaches, crystal clear turquoise waters, lush tropical vegetation, elevations to 15 ft. above sea level, and moderate anchorage. Excellent swimming, snorkeling, fishing, and diving area. Perfect for a family retreat or private island vacation getaway. The Yachtsman's Guide to the Bahamas (2005) describes Joe Cay as being guarded by shallow white sand banks through and around which deep channels may be found...It has two beaches.

The cay is approx. 2,000 feet long and 1,000 feet wide and the main lee side beach on the southeastern side with a mediums size sand spit jutting out into several yards of wading depth sandy waters. The beaches strech for a total about 1,500 feet, with varying widths to a maximum at low water of 45 feet.

A small but safe marina could be built on the eastern end of the island by dredging a canal and building a breakwater.